Pricing
SaltyPay believes in clear and transparent Cost Plus or Flat Rate pricing (your choice) with no nonsense fees or surprises over the contract term. It’s the only way we know how to do business. If you like teaser rates, we aren’t for you!
Cost Plus Pricing
Cost Plus means the true cost of a credit card transaction (“Interchange” fees and “Card Brand” fees) are directly passed through to you. You’ll have lots of numbers on your monthly merchant statement because there are lots of different card categories out there, but it will all be cost. Then, you pay your payment processor a fixed markup on total processed volume (example: Cost Plus 0.25%).
Your effective (i.e. average) rate floats up and down each month depending on the mix of cards your customers use but your markup is fixed. This is the most transparent pricing model in our industry and, thankfully, most providers now price this way.
Accurate savings for your business will be determined after a discovery call and an analysis of a recent merchant statement.
Flat Rate Pricing
For simplicity, we can also price on a flat rate basis. While Cost Plus is our norm, if you are coming from a vendor who uses flat rate pricing (such as QuickBooks Payments, or Square or Stripe) it is often easier to keep you on a flat rate and simply lower it. This way you can clearly understand the savings benefit from switching.
Accurate savings for your business will be determined after a discovery call and an understanding of your current rate.
Want to learn how much you’ll save with SaltyPay?
Pricing FAQs
What are Interchange fees?
Interchange fees vary by the card used (example: VISA Infinite, VISA Business, Mastercard World Elite) and vary by payment method (example: card present, card not present, eCommerce, recurring billing). And some sectors, like grocery, restaurants, beauty, education and non-profit, have access to lower Interchange rates than others based on lower risk of fraud and chargebacks.
Interchange rates currently range all the way from 0.87% up to 2.45% depending on the exact card used and method of payment.
Current VISA Interchange Fees I Current Mastercard Interchange Fees
What are Assessment fees?
Assessments or card brand fees are what VISA, MC, Amex and others charge on the transaction. Domestic transactions will cost you between 0.08% and 0.13% in assessments depending on the card brand, while foreign transactions are around 0.60%. If you want to deposit US sales into a US funds account, those assessments are upwards of 1.00%.
Changes to Interchange and Assessment fees.
Interchange and Assessment fees are often tweaked twice a year by the card brands. Sometimes these changes are reductions, and sometimes they are increases. The current trend is for reductions to card present transactions, and increases to some card-not-present transactions. Your processor will always provide 90 days notice of upcoming Interchange and Assessment fee changes, and that notice triggers a 90-day free cancellation window for all merchants as per our Code of Conduct.
“Can’t you just give me a flat rate like Square?”
Yes, if you’d prefer a flat rate, we can provide that.